ECA Group strengthens its Aerospace division with the acquisition of ELTA

Jeudi 01 Déc 2016 à 08:45

Following on from ECA's signature of a unilateral promise to purchase, as set out in the press release of August 5, 2016, the Group announces that it has finalized the acquisition of ELTA from AREVA TA and AREVA S.A.

Located in Toulouse, ELTA reported revenue of €15.6 million in 2015, with a workforce of 92 employees. It strengthens the Aerospace division of ECA, also located in Toulouse.

The skills and expertise of ELTA are structured around three major areas: secure electronic systems, radio transmission and measurement. ELTA applies its expertise in:

Aerospace, offering a range of equipment for aircraft: emergency locator beacons, for which ELTA is one of the key players worldwide, connectivity and energy conversion equipment;

ELTA will strengthen ECA's aerospace expertise through its activities and experience in on-board equipment, but also through its expertise in the fields of radio frequency and radio navigation. In addition, ECA now gains operations in the field of space, an area where several companies within the Group could promote their expertise. Lastly, ELTA's solutions are rolled out to hundreds of airlines, which significantly expands the Group's sales network among aircraft operators.

Accordingly, there are multiple synergies between ECA and ELTA, both from a technological and commercial perspective. This new entity will enable the Group to:

This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things:
the risks and uncertainties possibly mentioned in this press release; the strength of competition; the growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our FINANCIAL statements; supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).

Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.

ECA Group

The ECA Group is renowned for its expertise in robotics, automated systems, simulation and industrial processes. Ever since 1936 it has been developing complete innovative technological solutions to perform complex missions in hostile or restrictive environments.

Its products are used by a demanding international clientèle requiring the highest levels of safety and efficiency, mainly in the sectors of defence, maritime, aerospace, simulation, energy and industrial equipment.

In 2015, the Group reported revenue of 105.2 M€ for its three Departments: Robotics, Aerospace and Simulation.